Banking & Insurance

Adviser AIFA: Everyday Banking (FAIS)- Woodstock

ABSA

Location
Cape Town, Western Cape
Minimum qualification
Bachelor's degree
Closing date

First listed . Last checked at source .

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In brief

Overview This role is for an Adviser, specializing in Everyday Banking, at Absa Group Limited in Woodstock. The position requires a FAIS licensed financial adviser to execute the six steps of financial planning. This involves professionally introducing services, conducting Financial Needs Analyses (FNAs) for Investment, Life Insurance, and Estate planning, and providing recommendations based on client needs. The adviser is responsible for presenting advice under accredited license categories using Absa-approved products, implementing accepted advice through Absa’s processes, and regularly reviewing client solutions for continued suitability. A crucial ongoing requirement for the role is to maintain "Fit and Proper" status to operate under an Absa advice license. What you will do * Follow the six steps of financial planning as a FAIS licensed financial adviser. * Make professional introductions of the adviser and services offered. * Conduct Financial Needs Analysis (FNA) in Investment, Life Insurance, and Estate planning upon client approval. * Make recommendations based on the concluded FNA to address client needs. * Present advice recommendations under accredited license categories using Absa approved products. * Implement accepted advice through Absa’s new business processes. * Conduct regular reviews of client needs to assess continued suitability of implemented solutions and propose changes. * Establish and maintain professional relationships with all stakeholders (Client, Bank personnel, product providers, and Adviser Support staff). * Participate in reciprocal leads activities and sales/pipeline meetings to identify business opportunities, fully utilizing Absa’s bancassurance structure. * Assess client’s needs using recommended needs analysis tools, ensuring client awareness of the AIFA value proposition. * Prepare recommendations and quotes for appropriate risk and investment solutions based on client needs and profile. * Present recommendations to clients, ensuring adherence to all FAIS regulations. * Follow all designated client engagement processes specified by Absa Advisers. * Provide regular feedback to the Regional Manager on lead progression. * Network with Everyday Banking stakeholders to position the Absa Advisers' value proposition. * Plan activities for client engagement in conjunction with the Everyday Advice Executive. * Utilize leads information (provided and self-sourced) to determine client financial needs. * Exclusively use Absa’s Financial Needs Analysis tool (Avalon from Aug 2024 onwards) for comprehensive FNAs. * Obtain client consent to access existing policy information. * Discuss and recommend appropriate solutions/products to address financial needs. * Generate and discuss formal recommendations, including product quotes. * Complete necessary product application forms and secure client signatures upon advice acceptance. * Gather, generate, and complete all necessary compliance documentation (e.g., Client Advice Record, ID copy, Financial Needs Analysis, FICA). * Submit proposal forms to relevant product providers for processing. * Ensure issued policies align with recommended products. * Review client portfolios at least once a year and maintain relationships based on an agreed contact strategy. * Report strike rates to the Regional Manager and Everyday Banking stakeholders. * Seek external business opportunities to grow the business and reciprocate leads. * Capture the correct Policy Relevant Information (PRI) number on the Commission system. * Monthly check accuracy of commission statements and verify PRI number reconciliation. * Keep the client database up to date by adding new clients. * Follow up on unpaid premiums and lapses by contacting clients. * Manage the suspense account timeously. * Ensure Adviser Assistants have a clear understanding of their roles and responsibilities. * Arrange relevant training for staff members (e.g., Absa programs for Interns). * Provide coaching and mentoring to assistants for knowledge and skills development. * Participate in performance development (PD) discussions. * Take corrective actions for underperformance in consultation with the Regional Manager. * Implement controls for compliant record keeping in accordance with Absa business standards (FAIS, FICA, FSB). * Liaise with the Provincial Operations Office for system/equipment maintenance and services. * Complete all required compliance exams within specified timeframes (e.g., Anti-Money Laundering, Sanctions, BCM, Basic Financial Crime Concepts). * Provide monthly feedback to the branch and Business Bank regarding non-interest income and cross-selling opportunities. * Segment the client base according to profile, income potential, and commission income. * Engage with business development strategies with support from the Regional Manager and practice management subject matter experts. * Attend all required training to attain accreditation to market Absa approved products. * Attend all requisite internal training, including FAIS-related programs/courses. * Attain the required FAIS credits to achieve "Fit and Proper" status. * Ensure that "Fit and Proper" status is maintained (honesty, integrity, financial solvency). Requirements (from the original advert) * Must be a FAIS licensed financial adviser. * Required to be accredited to present advice recommendations under relevant license categories for Absa approved products. * Must ensure ongoing "Fit and Proper" status to offer services under an Absa advice license. * Required to complete all specified compliance exams within specified timeframes (e.g., Anti-Money Laundering, Sanctions, BCM, Basic Financial Crime Concepts). * Must remain "Fit and Proper" as required for FAIS flagged roles, ensuring honesty, integrity, and financial solvency. * Required to attain the necessary FAIS credits to achieve "Fit and Proper" status. * Required to attend all training to attain accreditation to market Absa approved products. Who should apply The ideal candidate is a FAIS licensed financial adviser committed to delivering comprehensive financial planning services within Absa's operational framework. This individual should be adept at building and nurturing professional relationships, skilled in conducting thorough financial needs analyses, and driven to achieve sales and growth targets. The role is suited for someone meticulous about adhering to FAIS regulations and Absa's internal processes, dedicated to continuous personal and professional development to maintain accreditations and "Fit and Proper" status, and capable of managing their own practice, potentially including mentoring assistant staff. Essential qualities include a strong focus on client satisfaction, ethical conduct, and a proactive approach to identifying new business opportunities. Deadline October 31, 2026 Reference Original posting: https://www.myjobmag.co.za/job/adviser-aifa-everyday-banking-fais-woodstock-absa-group-limited-absa Source: myjobmag

Summary drafted with AI assistance from the original advert. The advert itself is the authority — how we use AI.

At a glance

  • At least 18 years of experience.

Extracted automatically from the advert; confirm requirements on the original listing.

Job description

Job Summary * To follow the six steps of financial planning in executing the role of a FAIS licensed financial adviser. A professional introduction must be made to introduce the adviser and the services offered by the adviser. Upon client approval the adviser may conduct a Financial Needs Analysis (FNA) in the disciplines of Investment, Life Insurance and Estate planning. Based on the concluded FNA to make recommendations * To address single or multiple needs identified on behalf of the client. Advice recommendations will must be presented under the license categories for which the adviser is accredited Absa approved product(s) that are deemed will meet the needs of the client. On client acceptance of all or part of the advice, the adviser is required to implement the accepted advice through Absa’s new business processes. * The adviser must conduct regularly review of the client needs to assess continued suitability of implemented solutions. In these reviews, new needs may be addressed and changes to existing plans be proposed to ensure continued solutioning of client needs. * Adviser must continue to ensure ongoing Fit and Proper status to enable them to offer services under an Absa advice license. Job Description Key Accountabilities: * Accountability: To establish and maintain a professional relationship with all stakeholders (Client, Bank personnel, product providers and Adviser Support staff) * Participate in reciprocal leads activities and sales/pipeline meetings to identify opportunities for new or repeat business, and fully utilising Absa’s bancassurance structure. * Assess client’s needs through use of recommended needs analysis tools, ensuring that the client is aware of the full value proposition offered by AIFA. * Prepare recommendation and quote for appropriate risk and investment solutions based on the client’s individual needs and profile. * Present recommendation to clients, ensuring that all FAIS regulations are followed regarding advice given. * Follow all the steps in the designated client engagement process as specified by Absa Advisers. * Provide regular feedback to the Regional Manager on actions taken to progress the lead to business. * Network, on an ongoing basis, with all stakeholders in Everyday Banking (PGM’s and Regional Managers) and elsewhere by attending their meetings and social gatherings to position the Absa Advisers' value proposition to the Bank and to the clients Accountability: Meet sales and/or growth targets * Do activity planning by identifying the clients to be approached/contacted during a particular period in conjunction with Everyday Advice Executive. * Using the leads information provided by the source and or Regional Manager listings, as well as leads sourced through own prospecting activities and determine the client's financial needs. * Make exclusive use of Absa’s Financial Needs Analysis tool (Avalon from Aug 2024 onwards) to conduct a comprehensive Financial Needs Analysis for the client. * Obtain the client's consent to access his/her existing policy information by getting him/her to sign the relevant documents to * get a comprehensive view of the client's financial needs. * Discuss various possible solutions and options available with the client and thereafter recommend the most appropriate products and or solution(s) to address financial needs. * Generate and discuss a formal recommendation including product quote(s) for the client. * On acceptance of part or all the advice recommendations, complete the necessary product application forms and ensure that the client signs the forms to indicate his/her consent to engage in a transaction(s). * Gather, generate, and complete all the necessary compliance documentation (e.g., Client Advice Record, copy of ID, Financial Needs Analysis, FICA). * Submit the proposal forms to the relevant product providers for processing. * Ensure that the issued policy aligns to the recommended product. * Review the client's portfolio at a minimum of once a year and contact the client based on the adviser and client agreed contact strategy to maintain a healthy client relationship. * Provide a report back to the Regional Manager and Everyday Banking stakeholders on the strike rate (i.e., the number of leads provided that were converted to business) where applicable. * Seek business opportunities from external sources as necessary to grow the book of business and reciprocate leads to Regional Managers and PGM’s. Accountability: Manage own commission earnings * Capture the correct Policy Relevant Information (PRI) number on the Commission system. * On a monthly basis, check the accuracy of the commission statements received from the Broker Commissions department. * Verify that all the PRI numbers reconcile to the commission paid and reflected on the statements Keep the client database up to date by ensuring that new clients are added to the database. * Follow up on unpaid premiums and lapses by contacting the clients to establish the reasons for the problems Manage the suspense account timeously by clearing it on the system at month end. Accountability: Practice Management * Ensure that staff members (Adviser Assistants) have a clear understanding of their roles and responsibilities within the adviser practice. * Arrange for staff members to receive the relevant training (Absa programs for the Interns) e.g., systems training, product training and operational training. * Provide coaching and mentoring to assistant(s) with regards to facilitate knowledge and skills development. * Participate performance development (PD) discussions as required by the Absa performance management standards. * Take the necessary corrective actions in cases of underperformance in consultation with the Regional Manager. Implement controls with regards to compliant record keeping in accordance with minimum Absa business standards (i.e. FAIS, FICA, FSB and) * Liaise with Provincial Operations Office) with regards to maintenance of systems and equipment and provision of other services * Complete all the required compliance exams in the specified timeframes (e.g. Anti-Money Laundering, Sanctions, BCM, Basic Financial Crime Concepts). * Remain fit and proper as required for FAIS flagged roles. * Provide monthly feedback to the branch, and Business Bank, regarding non-interest income (seat costs) and cross-selling opportunities * Segment the client base according to profile, income potential and commission income. * Engage with business development strategies with the support of the Regional Manager and our practice management subject matter experts to maximise the sustainability of the adviser practice. Accountability: Personal Development * Attend all the required training to attain accreditation to market Absa approved products. * Attend all the requisite internal training (i.e FAIS-related programs/courses). * Attain the required FAIS credits in order to attain Fit and Proper status * Ensure that Fit and Proper status is maintained (honesty, integrity, financial solvency) End Date: October 31, 2026

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